Jericho Energy Ventures Secures California Grant for Hydrogen Innovation

Jericho Energy Ventures Inc., in partnership with Capella Partners, has received a Climate Innovation Proof of Concept grant via the California NanoSystems Institute at the University of California, Santa Barbara. This is Jericho's second hydrogen-focused portfolio company to earn such a grant in six months. CEO Brian Williamson emphasized the importance of green hydrogen in driving energy transitions, highlighting the need to reduce costs for sustainable progress.

In financial developments, Jericho has adjusted its private placement pricing from CAD$0.12 to $0.10 per unit. The placement offers gross proceeds of up to $2 million, featuring common shares and warrants. Scheduled to close by January 15, 2025, this financing adheres to customary conditions and regulations, with proceeds earmarked for working capital.